Primerica study guide - Study guides, Class notes & Summaries

An individual purchased a $100,000 Joint Life policy on himself and his wife. 8 years later, he died in a car accident. How much will his wife receive from the policy? - Answer- $100,000 A couple receives a set amount of income from their annuity. When the wife dies, the husband no longer receives annuity payments. What type of annuity did the couple buy? - Answer- Joint Life. What type of insurance allows the policy owner to skip premium payments? (provided that there is enough cash value...

A provision in a life insurance policy that provides for the early payment of some portion of the policy face amount should the insured suffer from a terminal illness or injury is called - Accelerated Benefit provision. Which of the following would NOT fall into the category of costs associated with death? - The expense of a vacation for surviving family members A set of legal or regulatory conditions that affect an insurer's ability to collect premiums commensurate with the level of risk...

Primerica-Life Insurance Stranger-oriented life insurance policies are in direct opposition to the principle of a. law of large numbers b. good faith c. indemnity d. insurable interest Correct Answer: d. insurable interest-STOLI purchaser doesn't know the insured, or have any interest in the insured's longevity, so it violates the principle of insurable interest Which is generally true regarding insureds who have earned preferred status? a. they keep a higher percentage of any inte...

Colorado Primerica Life Insurance Exam Manual Chapter 2 study guide solution 2023

Insurance - ANSWER-A transfer of risk of loss from an individual or business entity to an insurance company which spreads the costs of unexpected losses to many individuals. An agents job is to - ANSWER-Solicits insurance (orally or written) Must give disclosure statement that provides basic information about cost and coverage of the insurance Buyer's Guide - ANSWER--Provides basic, generic information about life insurance policies that contains, and is limited to, language approved by ...

Stranger-oriented life insurance policies are in direct opposition to the principle of a. law of large numbers b. good faith c. indemnity d. insurable interest If Tom's policy allows him to make periodic additions to the face amount at standard rates, without proving instability, his policy includes a a. Conversion option b. Non forfeiture option c. Guaranteed insurability option d. Guaranteed renewable option The paid-up addition option uses the dividend a. to accumulate additional ...

A home health nurse is visiting with an older adult client. Which of the following observations indicate the need for home modification? a. The home has power strips that have breakers. b. The client uses an electric toaster oven for cooking. c. There are two rocking chairs in the living room. d. The bathtub has a seat and a hand-held shower head A case manager is planning an educational program for a client who has diabetes mellitus. Which of the following activities should the nurse inc...

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A provision in a life insurance policy that provides for the early payment of some portion of the policy face amount should the insured suffer from a terminal illness or injury is called - ANSWER-Accelerated Benefit provision. Which of the following would NOT fall into the category of costs associated with death? - ANSWER-The expense of a vacation for surviving family members A set of legal or regulatory conditions that affect an insurer's ability to collect premiums commensurate with the...

Primerica General Insurance Adverse selection is a concept best described as: Correct Answer: risks with higher probability of loss seeking insurance more often than other risks Courts will interpret any ambiguity in an insurance contract: Correct Answer: in the favor of the insured- insurance policies are contracts of adhesion. the insurer writes the contract and the insured accepts the contract as it is written. when ambiguities exist, courts generally rule in the favor of the insured....